Tilray (NASDAQ:TLRY) Trading Up 1% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s stock price shot up 1% during trading on Friday . The stock traded as high as $1.60 and last traded at $1.59. 2,667,644 shares were traded during mid-day trading, a decline of 89% from the average session volume of 25,027,982 shares. The stock had previously closed at $1.57.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th.

Tilray Trading Up 1.3 %

The firm has a 50-day moving average of $1.73 and a two-hundred day moving average of $1.83. The firm has a market capitalization of $1.23 billion, a P/E ratio of -3.61 and a beta of 2.13. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last posted its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) earnings per share. On average, analysts anticipate that Tilray Inc will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Bank of Montreal Can increased its holdings in Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after purchasing an additional 355,778 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Tilray during the 1st quarter worth approximately $118,000. Avantax Advisory Services Inc. increased its position in Tilray by 46.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 53,110 shares of the company’s stock valued at $131,000 after acquiring an additional 16,792 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of Tilray during the first quarter valued at $75,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Tilray by 11.5% in the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after purchasing an additional 70,605 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

About Tilray

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.